Foxconn to set up mobile component manufactory in TN, inks pact

Taiwan’s Foxconn signed a letter of intent (LoI) with the Tamil Nadu government on Monday (July 31) at Chennai to set up a new mobile phone component manufacturing facility in Kancheepuram.

Chief Minister MK Stalin said on his Twitter handle the LoI was signed, in his presence, between the state government and Foxconn Group represented by chairman Young Liu.

The facility to be set up by the global leader in technology services at an estimated cost of Rs 1,600 crore has potential to generate 6,000 jobs.

(With agency inputs)